For years social media as an ecommerce platform has been listed on trend lists as “coming next year.” In 2020, “next year” has finally arrived.
- 87% of ecommerce shoppers say their shopping decisions are influenced by social media.
- 76% of 18-34 year olds are interested in buying directly via social networks.
- 32% of American women of all ages have already purchased something on a social platform. Another 24% are interested in doing so.
- Among those who have bought an item via social media, 62% used Facebook, 38% used Instagram.
- Facebook has aggressively moved into social commerce, rolling out new Facebook Shop and Instagram Shop this spring and summer.
- It is rumored that one of the reasons Walmart is interested in buying TikTok is its social shopping success in China. Walmart wants to leverage that strength in the US and other markets.
It’s becoming clear that social commerce will be part of the ecommerce success story of 2020 and beyond.
Sources: Absolunet 2020, Emarketer 2020, PYMNTS 2020, Yahoo 2020
So please…You’re creative. That’s why you considered the name “Brandology.” Use those creative juices to come up with another name that’s not already trademarked. Even though it will take some time, it will be fun, happy time — a stunning contrast to the time you’ll spend with Brandon if you try to use “Brandology.” Really. (It’s probably a little tacky to mention, but if you want our help naming your business, that’s something we do too.)